Mumbai: Private sector lender ICICI Bank on Tuesday launched an equated monthly instalment (EMI) scheme on debit card purchases, making it the first of its kind facility.

All debit card holders, however, are not eligible for this facility. Only those with fixed deposits with the bank can avail of this scheme. EMIs have been fixed at three, six, nine and 12 months, the bank said in an official statement issued here today.

Under EMI facility, the bank will charge an interest rate of 13 per cent on debit card purchases that will be linked to the amount in fixed deposits.

Other banks offer EMI facility to their credit card holders on purchases.

Beijing: The non-performing loans for commercial banks in China climbed to USD 112.84 billion in the last four months, registering a increase of 1.08 percent, and sparking concerns a slow economy could weigh on banks.

By the end of June, non-performing loans in the banking sector stood at 694.4 billion yuan (USD 112.84 billion), a jump of 48.3 billion yuan from the previous quarter, according to a report released by China Banking Regulatory Commission.

The regulator said the banks' credit risks were slightly up but the quality of their credit assets remained generally stable.

New Delhi: State-owned Canara Bank on Saturday said it aims cash recovery of Rs 6,500 crore this fiscal which may result in lowering of non-performing assets (NPA).

"The bank did cash recovery of Rs 5,000 crore for the year ended March 2014, this year (2014-15) we expect this to go up to Rs 6,500 crore," Canara Bank Chairman and Managing Director R K Dubey said at an event organised by Association of Business Chambers of Commerce and Industry.

Mumbai : Frequent withdrawal of money from ATMs will become expensive from November, with the RBI imposing a limit of 3 transactions per month from ATMs of other banks and 5 from the same bank in six metropolitan cities.

A customer will be required to pay a fee of up to Rs 20 for using Automated Teller Machines (ATMs) beyond the permitted numbers of transactions in Delhi, Mumbai, Chennai, Bangalore, Kolkata and Hyderabad.

Mumbai: The Reserve Bank of India will transfer to the Centre its surplus profit of Rs 52,679 crore, about 60 percent more than the amount given last year.

"The Central Board of Directors of the Reserve Bank of India... Approved the transfer of surplus amounting to Rs 526.79 billion for the year ended June 30, 2014 to the Government of India," the central bank said in a statement adding the transfer will take place on Monday.

Last year, the RBI had transfered its Rs 33,010 crore surplus profit to the Centre.

New Delhi : Finance Minister Arun Jaitley on Sunday said that the government is open to putting in place stringent steps to check repeat of criminal cases like the alleged Syndicate Bank bribery scandal.

"I think banks already know what they are to do. If some stringent steps required, certainly it will be done," Jaitley said when asked if some fresh guidelines or strengthening of corporate governance are required to check repeat of alleged criminal cases Syndicate Bank scandal.

Kolkata : A World Bank economist has said that the lender will fund only those hydro-power projects where safeguards are in place to prevent any adverse impact on the environment.

"We are prepared to support only those good hydro-power projects in India which make economic sense as well as take socio-environment safeguards very seriously," Michael Toman, lead economist on climate change in World Bank said here during a visit to the city.

Mumbai: The Reserve Bank on Saturday revised guidelines for mortgage guarantee companies and said that guarantees provided by them may be treated as contingent liabilities, for which credit conversion factor would be 50 percent.

"While calculating capital adequacy of MGCs, mortgage guarantees provided may be treated as contingent liabilities and the credit conversion factor applicable to these contingent liabilities will be 50 percent as against the present 100 percent," RBI said in a notification.

Mumbai - For the convenience of people to pay school fees and municipal taxes and utility bills through an integrated platform, the Reserve Bank on Thursday proposed setting up an "anytime anywhere" bill payment system.

Bill payment is a major component of the retail payment transactions as over 3,080 crore bills amounting to more than Rs 6,00,000 crore are generated each year in the top 20 cities in the country.

Mumbai: Reserve Bank Governor Raghuram Rajan on Tuesday said India has emerged from the perception of being in crisis and has placed itself as a better place to remain invested.

"I keep telling the international fora that India is not a problem any more. I think there was a perception problem (last year), but I think on Tuesday that perception also doesn't exist," Rajan said during the customary post-policy interaction with mediapersons at RBI headquarters here.

New Delhi: The Reserve Bank may maintain the status quo on interest rate in its bi-monthly monetary policy review to be unveiled on Tuesday amid apprehensions that deficient rainfall may further push up food inflation.

The food inflation remaining over 8 percent mark will weigh heavily on the RBI, which has been maintaining that containing inflation is its top priority.

New Delhi - The RBI's monetary policy review on Tuesday and a bunch of earnings from blue-chips including SBI, Mahindra & Mahindra and Hero MotoCorp, will dictate the near-term trend on bourses, market experts said.

Besides, trend in investment by overseas investors, global cues, movement of rupee against the dollar, oil prices and progress of monsoon will also hold key for the markets.